PayPal is slowly getting better here in the Philippines. I remember when I could get an account but I could not get any money sent to my account. Then, all PayPal account holders in the Philippines could be sent money and they could also get the money by using channels like Xoom or using the EON card with Unionbank. For Xoom, you had to pay some amount to get your cash while you have to shell out around 350php to get the EON card.

I am glad I did not get the EON card. See, PayPal now allows account holders here in the Philippines to get their cash sent directly to their banks. So if you do have a bank account, you could just transfer your PayPal cash to your Philippine bank account.

How do you do this?

Access your PayPal account and go your account information. Edit your profile and put in the bank details that you would need like the name of the bank and your account number. You would also be asked to give bank codes which you can check here. This bank code is actually known as the SWIFT code. Make sure that the information you put in are correct.

To withdraw money, go to the Withdraw Tab on your account and choose how you would like to withdraw your money. Here in our country, you can withdraw 7000php and there would be no charges on your end. If you withdraw amounts smaller than that, you would be charged 50php. If you put in wrong information so much so that the money is sent back to PayPal, you would have to face 250php as charge.

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